Innoviz Technologies Ltd. (NASDAQ:INVZ) Short Interest Up 62.5% in February

Innoviz Technologies Ltd. (NASDAQ:INVZGet Free Report) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 24,390,000 shares, an increase of 62.5% from the February 13th total of 15,010,000 shares. Based on an average trading volume of 12,070,000 shares, the short-interest ratio is currently 2.0 days. Currently, 12.3% of the shares of the company are sold short.

Institutional Trading of Innoviz Technologies

A number of institutional investors have recently added to or reduced their stakes in INVZ. Traynor Capital Management Inc. bought a new stake in shares of Innoviz Technologies during the fourth quarter valued at about $25,000. FNY Investment Advisers LLC purchased a new position in Innoviz Technologies during the fourth quarter valued at approximately $25,000. Lido Advisors LLC purchased a new position in Innoviz Technologies during the fourth quarter valued at approximately $29,000. OneDigital Investment Advisors LLC bought a new stake in Innoviz Technologies during the 4th quarter worth approximately $37,000. Finally, Sprott Inc. bought a new position in Innoviz Technologies in the 4th quarter valued at $54,000. Hedge funds and other institutional investors own 63.26% of the company’s stock.

Innoviz Technologies Stock Up 3.4 %

NASDAQ INVZ opened at $0.65 on Monday. The firm has a market cap of $110.11 million, a P/E ratio of -1.02 and a beta of 0.84. The company’s 50 day moving average is $1.25 and its 200-day moving average is $0.98. Innoviz Technologies has a 12-month low of $0.45 and a 12-month high of $3.14.

Innoviz Technologies (NASDAQ:INVZGet Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. The business had revenue of $6.03 million for the quarter, compared to analysts’ expectations of $5.86 million. Equities analysts expect that Innoviz Technologies will post -0.6 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on INVZ. Westpark Capital reissued a “buy” rating and set a $2.22 target price on shares of Innoviz Technologies in a research report on Tuesday, February 25th. Rosenblatt Securities reissued a “buy” rating and set a $4.00 price objective on shares of Innoviz Technologies in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $3.19.

Read Our Latest Research Report on INVZ

About Innoviz Technologies

(Get Free Report)

Innoviz Technologies Ltd. manufactures and sells automotive grade LiDAR sensors and perception software to enable safe autonomous driving at a mass scale. The company offers InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxis, shuttles, trucks, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.

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